The Court: This appeal under section 260A of the Income Tax Act has been preferred by the appellant/revenue against the order dated 8 February, 2013 read with order dated 12 February, 2013 passed by the learned Income Tax Appellate Tribunal ‘B’ Bench, Kolkata in ITA No. 684.Kol/2012 relating to assessment year 2008-09 on the following questions:
1. Whether on the facts and in the circumstances of the case the Ld. Tribunal has erred in law in deleting the addition of Rs. 15,16,1248/- on account of cess on green leaf by disregarding that the expenses on account of cess on green leaf is related to 100% agricultural operation and on this issue, against the decision of this Hon'ble Court in case of AFT Industries Ltd. v. CIT (270 ITR 167) the appeal of the revenue is pending before the Apex Court?
2. Whether on the facts and in the circumstances of the case the Ld. Tribunal has erred in law in deleting the disallowance of Rs. 36,25,200/- on account of notional interest on sticky loan not accounted for?
3. Whether on the facts and in the circumstances of the case the Ld. Tribunal has erred in law in deleting the disallowance of Rs. 27,93,020/- on account of depreciation on plant and machinery purchased out of the amount withdrawn from NABARD?
4. Whether on the facts and in the circumstances of the case Ld. Tribunal hasd erred in law in DELETING THE ADDITION of Rs. 45,28,096/- on account of the expenses under Section 14A to ascertain the book profit under Section 115JB by disregarding Explanation-I(f) to Section 115JB of the Income Tax Act, 1961?
5. Whether on the facts and in the circumstances of the case conclusion arrived at by the Ld. Tribunal in granting the aforesaid relief to the assessee, is perverse?
Heard Mr. Nizamuddin, learned advocate for the appellant and Mr. J.P Khaitan, learned Senior Advocate for the respondent/assessee.
We do not find any substantial question of law involved in the question nos. 1, 2 and 3 raised by the revenue.
Question no. 1 raised by the revenue is covered by the judgement in AFT Industries Ltd. v. CIT: 270 ITR 167. Question nos. 2 and 3 are covered by our judgement delivered today in ITAT 47 of 2014 (Commissioner of Income Tax, Kol-II, Kolkata v. Jayshree Tea & Industries Ltd..).
Therefore, no substantial question of law is involved in this appeal. The application and appeal are accordingly dismissed.